Episoder
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Technology stocks led a rebound on US equity markets following steep losses last week - Dow added +128-points or +0.32%, with Nike Inc (up +2.97%) and Salesforce Inc (+2.6%) both gaining over >2.5% to be the leading performers in the 30-stock index.
The broader S&P500 gained +1.08%, logging its best session since 5 June as more than >77% of index constituents advanced. Information Technology (up +1.96%), Communication Services (+1.21%) and Industrials (+1.07%) all rose over >1% to lead nine of the eleven primary sectors higher. Energy (down -0.72%) and Consumer Staples (-0.04%) were the only primary sectors to settle in the red overnight. Reddit Inc gained +5.3% after the social media company announced partnerships with the NBA, NFL, and other major U.S. sports leagues that will give its users access to official highlights and other content. CrowdStrike Holdings Inc slumped -13.46% to be the worst performer in the S&P 500 for a second session running as the fallout after from an update to the cybersecurity firm's software that caused a global outage in Microsoft Corp’s (-0.74%) cloud services late last week continued. -
US equity markets retreated on Friday (19 July) as technology stocks came under fresh pressure and investors digested the impact of a global technology outage - Dow dropped -377-points or -0.93%, extending its decline over the past two sessions to over >900 points or ~2.2%. Intel Corp shed -5.42% to be the worst performer in the 30-stock index on Friday (19 July).
The broader S&P500 fell -0.71%, with Energy (down -1.29%), Information Technology (-1.27%) and Financials (-1.00%) all fell 1%+ to lead nine of the eleven primary sectors lower. Health Care (up +0.50%) and Utilities (+0.11%) were the only primary sectors to advance. Starbucks Corp rallied +6.85% after the Wall Street Journal reported that activist investor Elliott Management has taken a significant stake in the global coffee chain and is engaging with management to find ways to improve the company’s share price. -
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US equity markets retreated amid fresh weakness for a number of large capitalisation technology companies and as the rally among small capitalisation stocks stalled - Dow dropped -533-points or -1.29%, having logged consecutive record closing highs. Investment banks Goldman Sachs Group Inc and JPMorgan Chase & Co both fell -3.18% to be the worst performers in the 30-stock index overnight. Amazon.com Inc (down -2.22%) and Apple Inc (-2.05%) both fell over >2%.
The broader S&P500 fell -0.78% Healthcare (down -2.29%) leading ten of the eleven primary sectors lower. Energy (up +0.33%) was the only primary sector to advance overnight. Eli Lilly & Co fell -6.26%, extending the previous session’s -3.8% decline amid concerns about intensifying competition among obesity-drug developers. Swiss pharmaceutical company Roche Holding AG announced positive early-stage trial data for its experimental obesity pill a day earlier. Ozempic manufacturer Novo Nordisk A/S fell -3.48%., taking its two-day slide to almost 9%. -
US equity markets rallied as the rotation into value stocks, which have underperformed their growth peers and the broader S&P 500, gained momentum amid building expectations of interest rate cuts - Dow rallied +743-points or +1.85% to a fresh record closing high of 40,954.48, booking its largest one-day percentage gain since June 2023, and largest daily point gain since November 2022, according to Dow Jones Market data. The Dow Jones transportation average (up +3.28% at 16,298.98) outperformed the broader indexes, logging its biggest one-day percentage gain since November and reaching its highest closing level since August 2023 as investors increasingly focused on undervalued areas of the market. Caterpillar Inc (up +4.28%) and Boeing Co (+3.87%)
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US equity markets opened the new week on a positive footing- Dow gained +211-points or +0.53% to record closing high of 40,211.72 - the first record close for the 30-stock index since 17 May and 20th this year. American Express Co (up +2.25%), Caterpillar Inc (+3.03%) and JPMorgan Chase & Co (+2.49%) all climbed over >2%.
The broader S&P500 added +0.28% to 5,631.22, touching a fresh record intra-day peak (5,666.94). Energy (up +1.56%) and Financials (+1.42%) lead six of the eleven primary sectors higher. Utilities (down -2.39%) sat at the foot of the primary sector leaderboard overnight. -
US equity markets advanced on Friday (12 July), rebounding from the previous session’s sell-off albeit finished off their best levels of the session that saw all three benchmark indices more than >1% higher - Dow rallied +247-points or +0.62% to 40,000.90, touching a fresh record all time intra-day high of 40,257.24. International Business Machines (IBM) Corp (up +2.53%) and Intel Corp (+2.96%) both rose over >2.5% to be the leading performers in the stock index.
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The S&P 500 and Nasdaq snapped a seven-session winning streak and logged their worst single session declines since 30 April as investors digested the latest inflation figures that triggered a rotation out of large capitalisation technology stocks - Dow edged +32-points or +0.08% higher, with Home Depot (up +2.79%) the leading performer n the 30-stock index. However, Intel Corp slumped -3.93%, while Amazon.com Inc (down -2.37%) and Apple Inc (-2.32%) and Microsoft Corp (-2.48%) all fell over >2%.
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The S&P 500 and Nasdaq extended their respective rallies into a seventh consecutive session, boosted by the continued strong performance of technology stocks and recording a fresh round of record peaks that lifted the S&P 500 above >5,600 for the first time - Dow rose +429-points or +1.09% to 39,721.36, marking the 30-stock index’s best single session advance since 31 May.
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The S&P 500 and Nasdaq edged higher to fresh record closing peaks, extending gains that have been fuelled by the strong performance of technology stocks and hopes the Federal Reserve will cut interest rates soon - Dow eased -53-points or -0.13%, with Dow Inc (down -2.31%), Microsoft Corp (-1.44%) and Salesforce Inc (-1.77%) among the key index drags. Intel Corp (up +1.77%) booked a five-session winning streak, while Goldman Sachs Group Inc (+1.72%) also rose over >1.5%. Apple Inc added +0.38% to a fresh record closing high of US$228.68 that lifted the company’s market capitalisation above >US$3.5 trillion. Amazon.com Inc inched +0.03% higher, with founder and executive chair Jeff Bezos selling s further US$863.5M in stock. A filing after the market close last Tuesday (3 July) disclosed the proposed sale of 25M shares (or almost US$5B), which would still leave Mr Bezos owning an ~8.8% stake.
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US equity markets opened the week with modest gains, lifting the S&P 500 and Nasdaq to fresh record closing highs - Dow slipped -31-points or -0.08%. Nike Inc (down -3.16%) was the worst performer in the 30-stock index, while Salesforce Inc (-2.21%) and Visa Inc (-1.46%) were also notable underperformers. Intel Corp soared +6.15% to be the leading Dow component overnight. Boeing Co rose +0.55% despite news the aircraft manufacturer had agreed to plead guilty to a charge of defrauding the federal government over the 2018 and 2019 crashes of a pair of 737 Max planes that killed more than 300 people. The company will pay another US$243.6M in fines, and be required to spend ~US$455M on its safety and compliance programs over the next three years while facing a three-year probationary period where it will be monitored by a government-appointed compliance monitor.
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US equity markets rallied on Friday (5 July), lifting both the S&P 500 and Nasdaq to fresh record closing highs as the latest jobs data pointing to a cooling but not collapsing economy, and with the second quarter earnings season kicking off later in the week - Dow added +68-points or +0.17%, with both Apple Inc (up +2.16% to US$226.34) and Microsoft Corp (+1.47% to US$467.56) climbing to fresh record highs. Intel Corp (up +2.53%) and Walmart Inc (+2.64%) both rallied over >2.5%.
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US equity markets advanced as Treasury yields retreated, lifting the S&P 500 and Nasdaq to back-to-back record closing highs in an abbreviated trading session ahead of the Independence Day holiday - Dow slipped -24-points or -0.06%, with healthcare stocks trailing the broader market. UnitedHealth Group Inc fell -1.68%, while Merck & Co Inc lost -1.46% and Amgen Inc -0.45%. Salesforce Inc (up +1.86%) was the leading performer in the 30-stock index.
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US equity markets rallied, with the S&P 500 and Nasdaq closing above the 5,500 and 18,000 milestones respectively for the first time ever - Dow rose +162-points or +0.41%.
The broader S&P500 gained +0.62% to 5,509.01, logging its 32nd record close of 2024. Consumer Discretionary (up +1.81%) and Financials (+1.10%) rose over >1% and led ten of the eleven primary sectors higher. However, Health Care (down -0.40%) extended losses into a sixth straight session, the sector’s longest losing streak since January 2022. Tesla Inc jumped +10.20% to US$231.26 to be the best performer in the S&P 500 for second session running and log it highest close since 10 January after the electric-vehicle giant stronger-than-expected second quarter deliveries. -
US equity markets advanced to kick off the second half of 2024, with the Nasdaq climbing to a fresh record high - Dow edged +51-points or +0.13% higher, with Merck & Co Inc (up +3.31%) the leading performer in the 30-stock index. Boeing Co rose +2.58% after announcing a long-awaited deal to reacquire parts supplier Spirit AeroSystems Holdings Inc (+3.35%). UnitedHealth Group Inc (down 2.87%) and Home Depot Inc (-2.34%) were the worst performing Dow components overnight.
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US equity markets relinquished early gains that saw both the S&P 500 and Nasdaq touch fresh record intra-day highs to close out the month, quarter and half with a whimper on Friday (28 June) - Dow slipped -45-points or -0.12%. Nike Inc tumbled -19.98% recording its largest single session percentage decline on record after reporting a disappointing fourth quarter result and cutting full year guidance after the close of the previous session that prompted multiple broker downgrades. Boeing Co (down -.27%) will be charged with fraud by the US Justice Department, according to a Bloomberg report that was published over the weekend. The decision comes after the Justice Department said Boeing violated the terms of a 2021 deferred prosecution agreement in May.
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US equity markets ended relatively unchanged as investors await fresh inflation data and what comes of the presidential debate scheduled for today- Dow rose +36 points or +0.09% to 39,164. Walgreens Boots Alliance slumped -22.16% after cutting its 2024 profit forecast and announcing plans to close more underperforming US stores. Nike shares were down -6% in extended trading, reporting its slowest annual sales growth in 14 years, excluding the Covid-19 pandemic, citing a slowdown in lifestyle stales, among other factors such as losing market share to start-ups On Running and Hoka.
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US equity markets closed with modest gains after a choppy trading session, with investors holding their cards close to their chest ahead of a presidential debate and an inflation report closely watched by Federal Reserve policy makers - Dow rose +16.10 points or +0.04%, to 39,128.26.
The broader S&P500 +0.16% to 5,477.91. Shares of major US banks including Morgan Stanley, Citigroup and Bank of America have been boosted by the results of the Fed’s annual banking sector stress test with each of the 31 banks absorbing losses while maintaining capital requirements in an environment assuming 10% unemployment, commercial real estate values plunging 40% and housing prices falling -36%. -
The S&P 500 and Nasdaq snapped three session losing streaks as Nvidia Corp (+6.76%) arrested a 3-day slide saw the chip giant enter official correction territory less than a week after hitting a record all time high - Dow dropped -299-points or -0.76%, snapping a five session winning streak and booking its worst single session decline since 30 May. Home Depot Inc fell -3.58% amid a broader sell-off of stocks exposed to the U.S. housing market. Boeing Co lost -2.23% following a Bloomberg report it had altered its offer to reacquire supplier Spirit AeroSystems (-3.96% to US$31.76) from an all-cash to all-stock offer that valued the target at US$35 per share.
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US equity markets logged modest declines on Friday (21 June) as semiconductor stocks retreated for a second straight session - Dow inched +16-points or +0.04% higher, with Intel Corp (up +1.53%) and Nike Inc (+1.68%) rising over >1.5%. Boeing Co edged +0.15% higher amid reports it was nearing a deal to acquire supplier Spirit AeroSystems (+6%). Apple Inc dropped -1.04%, falling in the final minutes of the session - possibly a byproduct of Friday night AEST’s triple witching (the simultaneous expiration of stock options, stock index futures, and stock index options contracts) or a sizeable rebalancing of the US$70B Technology Select Sector SPDR Fund.
Goldman Sachs Group Inc (down -1.72%) and JPMorgan Chase & Co (-1.19%) were both under pressure after the U.S. Federal Deposit Insurance Corp (FDIC) and the Federal Reserve Board on Friday (21 June) said they have found “shortcomings” in the so-called living wills of four of the eight largest U.S. banks. Since the 2008 financial crisis and the Dodd-Frank legislation to shore up the U.S. banking system, big banks have been required to file living wills with regulators to lay out plans for an orderly bankruptcy. Meanwhile, New York Fed's Liberty Street Economics blog cautioned last Thursday (20 June) that the big US banks face growing spillover risks from non-banks that could trigger "vectors of shock transmission and amplification, forcing authorities to intervene and do so en masse," the post said, adding that the disruptions "could be rather severe." - Vis mere
